Dec 19, 2011 (LBO) – The Commercial Bank of Ceylon has been named Sri Lanka’s ˜Bank of the Year’ by the UK-based ˜The Banker’ Magazine, the eighth time it won the award. The award is decided on the strength of strong performance in key indicators and saw competition from banks in 147 countries this year, a statement said.
These covered “qualitative achievements, strategic initiatives, financial results, growth rates and performance data as well as other aspects such as technology and key strategic developments.”
Other Bank of the Year award winners included Commerzbank (Germany), HSBC (Hong Kong), Westpac (Australia) and Royal Bank of Canada (Canada).
The statement said Commercial Bank this year also received its 13th ˜Best Bank’ award from Global Finance and Best Bank awards from ˜FinanceAsia,’ ˜Euromoney’ and ˜Trade Finance’ magazines.
“Thus, the Bank swept the board, by winning all major ˜country awards’ given to banks in Sri Lanka in 2011.”